Europe Feb FCA styrene at €1,070/tonne, up €35/t

07 February 2008 15:09  [Source: ICIS news]

LONDON (ICIS news)--The European styrene February free carrier FCA "customer reference price" contract has been agreed at €1,070/tonne ($1,574/tonne), up €35/tonne in line with the February benzene contract, a major producer and consumer said on Thursday.

 

“We have settled the FCA Rotterdam price for February with five customers at €1,070/tonne for styrene,” the producer said.

 

“We agreed at €1,070/tonne because of the €35/tonne benzene increase,” a resin producer confirmed.

 

However, an expandable polystyrene (EPS) producer said that he did not agree to the contract price because the number was “too high and not justified”.

 

The settlement followed news of the February styrene barge contract which was agreed in a €1,038-1,075/tonne FD (free delivered) NWE (northwest Europe) price range, marking a €38-40/tonne increase from January.

 

The February benzene contract was agreed on Friday 31 January at €737/tonne FOB (free on board) NWE, up €35/tonne from January.

 

The styrene spot market was quiet but a February deal was reported at $1,415/tonne FOB Rotterdam bringing the price range up by $20/tonne on the bid to $1,395-1,420/tonne FOB Rotterdam.

 

($1 = €0.68)

 

For more on styrene visit ICIS chemical intelligence

By: Julia Meehan
+44 20 8652 3214

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